India to Apply Zero Tariffs on Imported Beans from Myanmar in 2014

According to the news from the tax bureau under the Ministry of Finance of India, the Indian Government will apply zero tariffs on beans imported from Myanmar in 2014.

As indicated in a statement issued on Jan. 29, 2009 by the tax bureau under the Ministry of Finance of India, the Indian Government will unilaterally apply preferential tariffs to developing countries, which Myanmar can also enjoy.

According to this policy, India will gradually reduce tariffs on imported Myanmar beans year by year, reducing 20% in 2010, 40% in 2011, 60% in 2012, 80% in 2013, and 100% in 2014.